Unit3 work
1.) How does market segmentation differ from market targeting
a. A Market offering occupying a clear, distinctive, and desirable place relative to competing product in the mind of target consumers
2.) Name and describe the four major sets of variables that might be used in segmenting consumer markets. Which segmenting variables does Starbucks use?
a. Age
b. Life cycle
c. Gender
d. Behavior
3.) Name and Describe the levels at which market targeting can be carried out. Give an example of a company using each.
a. Homogeneous preferences: in this type of market, all members basically hold similar preferences. In this example, everyone in the market prefers creaminess and sweetness equally. When no segment exists, a mass marketing strategy is usually followed.
b. Homogeneous preferences: in this type of market, all members basically hold similar preferences. In this example, everyone in the market prefers creaminess and sweetness equally. When no segment exists, a mass marketing strategy is usually followed.
c. Homogeneous preferences: in this type of market, all members basically hold similar preferences. In this example, everyone in the market prefers creaminess and sweetness equally. When no segment exists, a mass marketing strategy is usually followed.
4.) Explain how companies segment international markets.
a. The international market is no different than any other market. Segmentation allows you to identify an opportunity that is 1 unique 2 underserved and 3 that your company can uniquely do. You cant be all things to all people and a segmentation allows you to call out a certain group whose needs are different from that of the rest of the population. By meeting the unmet needs of this group you can satisfy a sustainable position in market. As for whether to segment by region, nation, etc - it only matters as to how you can segment and find them. Additional reading on thus topic you would enjoy would be to go to Quickmba,com and search for
a. A Market offering occupying a clear, distinctive, and desirable place relative to competing product in the mind of target consumers
2.) Name and describe the four major sets of variables that might be used in segmenting consumer markets. Which segmenting variables does Starbucks use?
a. Age
b. Life cycle
c. Gender
d. Behavior
3.) Name and Describe the levels at which market targeting can be carried out. Give an example of a company using each.
a. Homogeneous preferences: in this type of market, all members basically hold similar preferences. In this example, everyone in the market prefers creaminess and sweetness equally. When no segment exists, a mass marketing strategy is usually followed.
b. Homogeneous preferences: in this type of market, all members basically hold similar preferences. In this example, everyone in the market prefers creaminess and sweetness equally. When no segment exists, a mass marketing strategy is usually followed.
c. Homogeneous preferences: in this type of market, all members basically hold similar preferences. In this example, everyone in the market prefers creaminess and sweetness equally. When no segment exists, a mass marketing strategy is usually followed.
4.) Explain how companies segment international markets.
a. The international market is no different than any other market. Segmentation allows you to identify an opportunity that is 1 unique 2 underserved and 3 that your company can uniquely do. You cant be all things to all people and a segmentation allows you to call out a certain group whose needs are different from that of the rest of the population. By meeting the unmet needs of this group you can satisfy a sustainable position in market. As for whether to segment by region, nation, etc - it only matters as to how you can segment and find them. Additional reading on thus topic you would enjoy would be to go to Quickmba,com and search for